Crypto rule change will slash Brazil’s current account deficit

Crypto purchases will no longer be treated as import goods, central banks says


Crypto purchases will no longer be treated as an import, which will reduce Brazil’s current account deficit, the Central Bank of Brazil (BCB) said on June 24.

For the period January–May 2024, the current account deficit will be $7.3 billion lower, falling from $21.1 billion to $13.8 billion.

Net crypto asset imports of $11.7 billion will also no longer be included in the trade balance calculation for 2023. Renato Baldini, deputy head of the BCB’s statistics department, said the 2023 current

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